Talent Management Strategies for Tesco

Managing a Successful
Business Project

INTRODUCTION
Talent Management refers to making the use of a wide variety of strategies and
techniques which are required in order to ensure that the attainment of a wide range of overall
organizational goals as well as objectives can be done quite effectively and efficiently so that the
the contribution towards the attainment of short-term, medium-term and long-term goals and
objectives in the future can be made in a right manner (Aghaei, Bahrololoum and Andam, 2020).
Thus it is important for the HR department of the organizations to consider the appropriate
Talent Management Strategies to be applied so that the organizational productivity level can be
raised. This project is based on Tesco. It is a British Retail Company which provides a wide
variety of products and services to its customers in the market. In this assignment, detailed focus
will be made on establishment of the project aims, objectives and timeframes, conducting of
small-scale research, information gathering and data collection, presentation of the project and
communication of appropriate recommendations. Additionally, specific analysis on reflection on
the value gained from conducting the project will be made as a part of this project.
TASK 1
P1: Project Aims and Objectives
Research Title- Talent Management Strategies to be applied within an organization- A
study on Tesco
Research Aim- To identify and assess the best Talent Management Strategies which can
be implemented within the organizational processes
Research Objectives-
 To identify the requirement of assessment of talented people within the organizations
 To assess the need of applying the use of talent management strategies within an
organization
 To identify the impact which will be put by the use of talent management strategies in the
organizations
Research Questions-
 What is Talent Management?
 What is the importance of making the use of Talent Management within the
organizations?
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 What are the best strategies which can be used for the purpose of applying Talent
Management Strategies in the organizations?
According to Prarthana Ghosh, Talent Management refers to a methodologically arranged ,
strategic process of getting the right talent onboard and helping them grow to their optimal
capabilities by keeping various types of organizational objectives in mind. Thus, it can be said
that it is a process through which the overall goals and objectives can be attained in the right
manner effectively and efficiently in the right manner. Therefore, it is crucial for the
management of Tesco that it is able to find out the way in which the application of a wide variety
of strategies and methods so that the application of Talent Management can be done. This will be
helpful in identifying the way in which the overall goals and objectives as well as the
productivity level can be raised which will lead towards raising of overall profitability level in
the future. Further, there is a particular use of Talent Management Process Model in which there
are steps of Planning, Attracting, Selecting, Developing, Retaining and Transitioning. Thus, In
this way it can be said that the Talent Management is important in the organization.
According to IceHrm, Talent Management is a business strategy through which the organizations
can make sure that they are able to retain their talented and organized employees. Thus, In this
way it can be said that through the use of this particular business strategy the organizations can
identify the best way through which the management of talented people can be done in a right
manner effectively and efficiently. Therefore, In this way it can be said that the HR department
of Tesco is required to make sure that the identification of the way in which the use of
appropriate strategies and techniques can be made so that the efficiency and effectiveness level
can be raised.
As per the views of Karim Ansari, there can be an use of different talent management strategies
within the organizations. Some of these strategies are Understanding the power of job
descriptions, Assessing candidate cultural fit, Learning to become a coach, Providing continuous
training and development opportunities, Give back to employees with rewards and recognition
and Cultivating an honest career path. Therefore, through the application of these particular
strategies the organizations like Tesco can make sure that they are able to ensure that they can
attain the desired goals and objectives in the short-term, medium-term and long-term in the right
manner.
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P2: Project Management Plan
A Project Management Plan refers to a plan in which the detailed needs and requirements
of the projects of the different types of organizations can be analysed so that the appropriate
actions can be taken accordingly so that the project goals and objectives can be attained in the
future effectively and efficiently (Cooke, 2017). It has to be framed by Tesco's management so
that it is able to make sure that project goals and objectives in the short-term, medium-term and
long-term can be attained in a proper manner. The wide range of components of this particular
plan are as follows-
Scope Statement- The Project of Tesco in which the implementation of the Talent
Management Strategies has been planned is quite wide in scope and therefore in this way it can
be said that the use of these strategies will be made in this particular project to ensure the
attainment of the goals and objectives (Dang, Nguyen and Ha, 2020).
Critical Success Factors- Tesco's Project will also be dependent upon the several
Critical Success Factors. These factors are Knowledge & Skills of the People in the organization,
Application of Talent Management Strategies in the organization, Use of appropriate methods &
techniques and The Cost of implementing Talent Management Strategies in the organization
(Harris, 2018).
Work Breakdown Structure- In Tesco, the preparation of a detailed WBS will be done
so that the overall work related to the project can be divided into several small components and
thus the tasks are assigned accordingly (Kamel, 2019). This will be quite helpful in ensuring that
the company is able to attain the goals and objectives in the future.
Schedule- The scheduling of the project in Tesco will be done through making the use of
a detailed Gantt Char in which the entire schedule related with the project will be set (Kohestany
and Yaghoubi, 2017). This will be helpful for the company to be able to ensure that it can
effectively and efficiently attain its project goals and objectives.
Budget- A Budget refers to a detailed estimation of the receipts and expenditures during
a particular period of time i.e. mostly a year (Kumar and Sankar, 2016). In the context of Tesco,
it is therefore crucial that the Budget can be set for the purpose of implementing the Talent
Management Strategies-
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